Cheniere says 6th Sabine Pass LNG train almost complete

US LNG export firm Cheniere is nearing the completion of the sixth production train at its Sabine Pass liquefaction plant which will boost the Louisiana terminal’s capacity to 30 mtpa.

Cheniere said in its third quarterly report the project has achieved 97.1 percent completion as of September 30.

In September, Cheniere introduced feed gas to the unit after receiving approval from the Federal Energy Regulatory Commission (FERC).

The firm still expects to reach substantial completion at the 5 mtpa unit in the first quarter of next year.

Bechtel is building this train, such as the previous five units and the three trains at Cheniere’s Corpus Christi plant.

Adjusted Ebitda, revenues up

Cheniere said its adjusted Ebitda reached about $1.1 billion in the third quarter, compared to $477 million in the same period last year.

Revenues surged to $3.2 billion when compared to 1.46 billion last year, while the firm reported a net loss of about $1.1 billion, rising from $463 million in 2020.

The US LNG player said net income decreased $621 million primarily due to an increase in derivative losses from changes in fair value and settlements of $3.4 billion.

During the three and nine months ended September 30, Cheniere exported 500 TBtu and 1,476 TBtu of LNG, respectively, from its liquefaction projects.

Cheniere introduced full-year 2022 consolidated adjusted Ebitda guidance of $5.8 – $6.3 billion and distributable cash flow guidance of $3.1 – $3.6 billion.

“As we look ahead to 2022, we look forward to substantial completion on Train 6 at Sabine Pass in the first quarter, approximately a year ahead of the guaranteed completion schedule, fully realizing our original 9-train vision, and expanding on that platform with a positive FID on Corpus Christi Stage 3,” Cheniere’s chief executive Jack Fusco, said.

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